Flagship Harbor Advisors LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Flagship Harbor Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,929 shares of the oil and gas company’s stock after selling 420 shares during the period. Flagship Harbor Advisors LLC’s holdings in Chevron were worth $4,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CVX. Deerfield Management Company L.P. Series C purchased a new stake in shares of Chevron during the second quarter worth approximately $244,000. Scientech Research LLC boosted its stake in Chevron by 132.3% during the 2nd quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock worth $783,000 after purchasing an additional 2,849 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Chevron by 6.4% during the second quarter. Kathmere Capital Management LLC now owns 2,759 shares of the oil and gas company’s stock worth $432,000 after buying an additional 167 shares in the last quarter. Creative Planning raised its position in shares of Chevron by 1.8% in the second quarter. Creative Planning now owns 569,660 shares of the oil and gas company’s stock valued at $89,106,000 after buying an additional 10,291 shares during the last quarter. Finally, Copperwynd Financial LLC lifted its stake in shares of Chevron by 15.8% in the second quarter. Copperwynd Financial LLC now owns 5,110 shares of the oil and gas company’s stock worth $820,000 after buying an additional 696 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Raymond James increased their price target on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Down 0.3 %

Chevron stock opened at $155.62 on Monday. The company has a market capitalization of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a 50 day moving average price of $153.81 and a 200 day moving average price of $151.14.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.